and they got a nice call from s&p with a credit upgrade. david: you can hear the bells are ringing on wall street. the end of the trading day, the last trading day before the election, and they are all in the green. again, market trying to figure out which -- what's going to happen, trying to predict what the election might mean vis-a-vis stocks. in the end, thumbs up on all of the indices. not very much so, in fact, the biggest index to the upside was the russell 2000, but the nasdaq had a nice bump as well. liz: david, look at copper. when the metals closed today, it was a mixed picture. silver and gold not bad, but copper, that metal hitting a two month low today, a lot of this is concern about a change in leadership in china and what will the stimulus plan for big infrastructures end up being. copper, of course, used for those types of construction projects. it's just a big unknown, big question mark there. david: let's keep it on commodities for a second and

look at oil and gold. oil seeing a very nice bump, up 1% if you were long on oil, that's a nice thing. gold also seeing a nice bump, up $9. again, it's looking for some kind of floor. once it got below 1700, a lot of people got worried, but it seems to find at least a floor for today. liz: and investors still very much focused on sandy today or at least the aftermath with two industry groups outperform anything a flat market. take a look at pkb, this is the pro shares building and construction etf who includes poultry homes, volcker and lennar moving higher by 1.5% as that tide has been lifting all the boats involved in this type of sector. david: with the election one day away, one legendary businessman says there is one key factor that could determine who wins tomorrow. leo hendry, intermediate ya partner managing editor is here in person. liz: and steeple financial

announcing this morning it's going to purchase kbw, the two ceos joining us live in the studio. david: we've got a lot popping here in the next hour, but first, we're going to tell you what popped the markets with today's data download, stocks holding on to modest gains a day before the presidential election, all three indices closing in the green. materials and energy were today's top performers while telecom and utilities lag. lots of actions in the currency pits, the euro fell to a near two-month low against the dollar weighed down by uncertainty on reform, and tomorrow's u.s. presidential election, of course, the euro traded below its average hitting a low of $1.27. and the u.s. nonmanufacturing sector expanded at a slower rate in september, readings above 50 indicate some form of economic expansion. liz: well, we've got john brady

in the pits of the cme and lee munson breaking down their preelection portfolio plays. let's start with john at the cme. and the market attention, we are hearing here at least in new york that it's very much focused on the election. what are you hearing in chicago? >> no, i think so, liz. i think that's right. you know, today's lighter volume trade has brought about a bunch of short covering, and that doesn't go really well in jibe or in sync with the economic data we saw earlier today. you mentioned earlier the october nonmanufacturing ism survey. four of those ten subcomponents of that number were below 50, a fifth was right at the 50 level, so the economy seems to be slowing a little bit, but really today's trade has been a short covering trade, portfolio managers moving to the sideline, reducing risk ahead of the fluidity of what should be tuesday night/early wednesday morning election resultings. david: john, not that anybody has any political preference, but what do the traders tell you

what happens if there's an obama win or a romney win. >> here it is in short. if we're going to get a mandate, it probably comes from are a romney win. it'll have a mandate and a little bit more executive authority to take on the challenges specifically regarding the fiscal cliff. president obama, fortunately, has a little bit of a record, and thus his relationship with the house of representatives is scarred a little bit, and that'll be difficult regarding the fiscal cliff. so in short, if romney wins, i think it's dollar positive, equity market positive, bond prices probably repriced to slightly higher yields. the option holds true with a president obama win. i think the focus and tension that will come about, we'll probably see stocks come under pressure. liz: under pressure, but then what? do you think there will be a blowing through of the bottle neck that's been there for a while when there is that clarity, and if so, who's best poised to really participate in that rally? which sectors do you think might do well? >> well, i think on a romney win i think you'll probably see large cap stocks outperform.

i think on an obama win you'll probably see technology stocks sell off less than let's say the broader market. but there is concern, liz, regarding the regulatory issues that the country will face, the fiscal cliff that we will face, and likewise, too, as you mentioned earlier, the situation in greece seems a little bit fluid. we do have a chinese leadership change coming up as well. so there are a lot of moving parts here, but really the market's main focus will be on the fiscal cliff starting on thursday or friday. the makeup of the senate and the senatorial elections, of course, will be important. but i would think under obama, a continuation of the obama presidency, technology stocks will probably sell off less than the broader market. on a, on a romney victory, i think the broader market -- specifically manufacturing and large cap stocks -- probably outperform. david: john brady, thank you very much, my friend. good to see you. liz: thank you. >> thank you, david. yep, thank you. liz: i feel like going to the market panel. taking money, putting it to

work. david: joining us now, ralph -- [inaudible] and lee munson, part of portfolio llc. ralph, i want to go to you fist. and for the moment, of course, politics play in all this, but let's just drill down to one sector that you think is due for a pop. some people say it already has, but financials. you say that we are on the,. >> u.s. the edge of a big surge in financials. why do you think so, and where should you put your money in. >> well, thanks for having me, and i just want to say that historically rotation, sector rotation is the lifeline of every bull market. and in the last six weeks we had this correction, if you want to call it that. it's been very shallow. technology came under an awful lot of pressure, and the money rotated into financials. that, to me, shows that there's a shift from growth to value. that's very, very healthy. and if you look at the xle, excuse me, xlf, the financial

etf, we're on the verge of making a massive technical breakout. david: okay, by the way, we're looking at it -- forgive me, ralph, we're looking at it now on the screen, the xlf is what you're talking about. go ahead. >> yes. i hope you have a long-term picture there because you'll see that the february 2011 high, that's the peak of 17.20. we're within a very, very short distance from that level. i think once that's broken, that'll be a huge three-year base breakout. i think the financials have finally come to the floor, and everybody keeps saying you can't have a bull market unless you have financials. well, guess what? we've got them. liz: lee, what's your spin on this, and whether it's financials or another sector, are you watching breakout levels? i'm not so sure you look so closely at technical levels, but what is it you see no matter who wins that indicates to you it's time to buy, and if so, where? >> you know, let's bring this -- i love technicals, i love some of the stuff that ralph is talking about.

i used to be a real technical trader when i was younger, even though -- liz: a younger man. [laughter] >> liz and dave, let's think about this in a rational narrative. number one, capital expenditures, cap exhas been weak. ceos have to go back to work. thai got to invest that money. and now that we're going to have uncertainty done with in another week or so, and all that uncertainty's in the news. they're going to have to start spending to make money. so one of the things i like is the cloud computing sector, something like a vmware because they have to keep those workers that they have as productive as possible. now, here's the thing, though, productivity is as high as it can. that ceo, they've got to call the hr person and say we have to hire more person. we know margins are going to go down, but we have to start making more money once we make those capital expenditures. and when people get a job, they're going to buy a mini ipad, and then what that feeds

into is housing. now, some of these housing stocks have been on fire. if you bought them a year ago, kudos, what a great trade that you made. but i think right now in terms of the housing market, i still think real estate investment trusts are the place where you need to go, and i think that's good for the economy. i love caterpillar because you need those big yellow things to move earth and start getting things on a recovery. david: boy, that's an entire portfolio you gave us to work with, lee. ralph -- >> okay, okay, vmware technology -- david: let me get ralph back in here. ralph, one way in which you agree with lee is, i guess, on caterpillar because you think the economy's going to start moving bigtime, or at least more than 2%, right? >> yes, of course. and the rotation we started to see, i mentioned financials, but you also have the industrials, caterpillar being in there. the autos are doing very, very well. so it is broadening out, and i like that shift. david: and you look at how it's come down, by the way, you want to buy when it's cheap, and at

least for a 52-week profile, it is cheap right now. >> yes. in the case of caterpillar, yes. there has been a nice pullback, and i think you're probably at a level where it starts to bottom out. liz: ralph, the last time you were here -- >> and if obama wins this thing, a lot of people are talking about the market selling off, i think it's a great opportunity to go into buy, because whoever wins this election, they're not going to stop corporate america from going back to work on wednesday morning. liz: ralph, the last time you were here you said pile it higher and deeper no matter who is going on. do you agree with lee on that? >> yes, i do. the uncertainty will be out of the way. they'll have to deal with the fiscal cliff. maybe they kick the can down the road. we'll get past all of that. david: ralph and lee, great to see you both, guys. thank you very much. appreciate it. liz: thank you, gentlemen. legend dare businessman and political activist leo hendry founded the yes network, largest regional sports network anywhere, says there is one key factor that will determine who wins the election, and right now

it's telling him one candidate will be the likely winner. who is that? well, leo joins us coming up. david: also, steeple financial announces it will buy investment banking firm kbw, further expanding its footprint in the financial services sector. the ceo of steeple and the ceo of kbw join us. they're both together right here coming up next. liz: plus, fox business on the ground across the country bringing you the latest on tomorrow's election. both candidates represented here, we're taking it live to two key states, ohio and virginia. ♪ [ male announcer ] this is steve.

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liz: breaking news, limited path train service between new jersey and new york city will resume tomorrow. the service will be available between 5 a.m. and 10 p.m. even seven days a week. of course, service was suspended due to hurricane sandy's destruction last week, so resuming this kind of service is going to be just a huge

positive, a big plus sign for this entire region, new jersey to new york. some household durable stocks getting a boost today, let's head back to nicole petallides on the floor of the new york stock exchange. >> thanks, liz. well, we continue to follow, we're following the elections, we're following the markets back in action, but we are not losing sight of hurricane sandy at all, so we're taking a look at some names that are related to sandy and including legget and platte when you talk about office furniture, newell rubbermaid, whirlpool, generac which hit another new high for generators, how many depot with -- home depot with an up arrow, and how about lumbar ehrlich by day to haves, right? you need lumber to build flooring and cabinets and such, so the aftermath of hurricane sandy still moving a lot of stocks on wall street. liz: thank you, nicole. david: well, steeple financial corporation is making another acquisition, announcing plans to

buy kbw in a deal valued at $575 million. liz: what's the motive behind today's major investment banking deal? let's ask the two gentlemen in charge. joining us now, steeple financial's chairman, ceo and president and thomas michaud kbw's ceo and president. i find this so interesting, ron, because, you know, you both have been around a long time, you both have held on to your companies and really worked your way up through them, but what was it about kbw -- which is a little bit smaller than steeple -- where you said now's the time to make this move? >> well, it is the, kbw is the preeminent specialist in financial services not just in the united states, but globally. it's a great opportunity for us to add capability in our quest to be a premier middle market investment bank. it's a great firm, i've known tom for a while, and we're excited to do it. people say why now, i say why not now? david: well, tom, you were

focusing on small and mid sized commercial banks you were interested in getting in the marketplace. they've been crushed. i mean, they really never made a full comeback from what happened in 2007-2008. >> yeah. david: do you see, are we on the verge of a comeback for those small and mid-sized companies which actually is a good indicator of small and mid-sized businesses all over? >> as a matter of fact, financial stocks broadly are outperforming the market for the first time since 2006, so we think that the rebound is starting. now, it's slow because the economy's slow and very low interest rates still aren't helping banks, but things are getting better. david: but more than that 2% growth level than we've been seeing? >> we've been seeing a little bit better than that, but certainly closer to that than double digits. liz: so it's a cash/stock deal, about $10 in cash, another 7.50 in stock, and almost immediately in expenses? >> we believe the deal is 5-7% to our earnings. liz: as you looked to kbw, ron,

did you say the one thing i wanted was it for the ability to get shares in the ipos for clients, the m and a or investment banking capables? i find it very interesting to be contrarian and you guys going forward into this. >> well, actually, i looked at all of those things, the capabilities are first class, and we have a contrarian. we have made 11 acquisitions in the past number of years -- liz: i'm thinking ryan beck -- >> thomas partners, we've made a number. and each one of those have added to our capabilities. we have never -- we've had 17 consecutive years of revenue, we've added people every year. we're growing. people take issue with that. i believe that now's the time to be investing, not retrenching. david: tom, you guys, again, for those who don't know, kbw suffered tremendously in the 9/11 attacks, 60 employees killed in that attack? >> 57. david: did that have anything to

do with fortifying the spirit of the company? >> absolutely. we're a very close-knit firm, our dna's very strong, and that's why we're delighted that we're going to get a chance to keep our brand name as part of the steeple financial corporation. liz: i was going to ask about that, because the pride of kbw -- >> absolutely. so we've not had a lot of turnover over the years, and given our history, and we think this is a great opportunity along with the steeple family. david: was that an important part of the negotiations, to make sure that you could stay together as a family? >> in talking to ron early on, he cited that as very important. i think that he's got a lot of confidence in our brand, we have a lot of confidence in our brand, and we both felt that leaving it under the kbw brand was the right thing to do. liz: let me bring it to regulation and dodd-frank. some the rules have not yet been written, but there is a question of proprietary trading and a lot of wall street financial institutions have belly ached

that you're hurting our ability to make money. do you see it that way? >> in many ways i do. i think that dodd-frank is going to be very difficult to implement, it might be against international law in some ways. it's going to be difficult. i, frankly, think the solution is much simpler, and that is a form of glass-steagall but not legal separation. we should just separate the depository system from the investment bank. it's really how we're structured at steeple. we own a bank, but we can only do safety and soundness in our bank, and we have an investment bank. just separate 'em and don't have the taxpayers bailing out the investment bank. david: wow. this is one of the first times i've ever heard a guy say perhaps some form of glass-steigel is important to go back to. what about the ability of financial institutions to have that open discount window to the fed? that's something new as well. should that be cut off? >> i think that while the fed is there, obviously, for bank holding companies -- david: but the federal reserve

was designed as a lender of last resort for commercial banks, not for financial -- >> that's right. >> but our bank has access to the fed, but our investment bank does not. liz: does not. >> okay? and there's been rules for a century that separate, that make banking affiliates go according to rules. all the rules are in place, we just need to separate 'em within a control group so that you can compete but protect the depository system. i think dodd-frank goes too far to try to collapse everything together, but that's just my opinion. liz: well, congratulations. >> we're excited. thanks for having us. david: appreciate it. liz: good luck. david: one of the biggest if not the biggest issue that will determine the economy, and we have someone who knows it very well, leo hindery, managing partner at intermediate ya partners. find out who our current system favors, president obama or governor romney. liz: and we're heading out to a

couple of important, crucial states that people will be paying very close attention to tomorrow, ohio and virginia. what happens in these states? we'll have the national impact. you need to hear what's the latest action on the ground. our reporters right there to give that to you. ♪ ♪ bob...

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. david: it's all about the swing states, of course, the presidential candidates are making their final push in key battle ground states ahead of the main event tomorrow. fox business' jeff flock is in columbus, ohio, and ashley webster's in the richmond,

virginia, watching the election's impacts on the economy. liz: ashley, let's go first to jeff flock in ohio, a state that a number of political analysts are saying could determine the election outcome. jeff? one-one thousand, two-one thousand. he's at a rock concert. all right. we're going to hold off. that's jay-z -- go ahead. >> reporter: if you can hear me, i've never been in a jay d concert -- jay-z concert before, but that's what's going on right now. you really can't hear muchof anything, although everyone here seems to like it. ohio, of course, is a huge, huge state in this election. the president trying to do his best to get the vote turned out here. one issue that i think -- [inaudible] tomorrow, this is the first time that ohio has mailed out

absentee ballots to all of its 8,000 registered voters. it got roughly -- did i say 8,000? 8 million registered voters. they got about a million of those back. mailed an absentee ballot, and they have not mailed it back in, and then they go to the polling lace and attempt to vote, they would perhaps test what's called a provisional ballot. [cheers and applause] if they did that, that would then delay the counting of any of those ballots by ten days. if this becomes a very close election, that could be a huge problem. we could be looking at again a florida-like situation where we don't have a winner, a clear winner in a state with 18 electoral votes, they could be pivotal. we all hope that doesn't happen. one of the reasons the obama campaign is out here trying to

fire up their electorate -- i can't even hear what i'm saying to you -- david: jeff, we have seen you, we have seen you on tractors, we have seen you on 100 mile her hour speed bolts, we have never seen you more challenged than trying to talk through a jay, and concert. [laughter] i don't think there's anything more challenging. that's all right, jeff, don't worry about it. we've got to go to ashley webster, in richmood, virginia. go ahead, ashley. >> reporter: yeah, hi, david and liz. well, don't have to worry about the crowds, i'm in an historic downtown shopping area of richmond, virginia, rather quiet. this is the rush hour in richmond, not too bad, not too difficult to navigate. but certainly virginia as a state has 13 electoral votes, and i've got the tell you both on a presidential level and on a senate level the race could not with closer. a statistical tie according to all the latest polls. talking of the senate race, we have republican george allen up against democrat tim kaine.

this race has generated a lot of money, more than $70 million has been invested in this race from outside contributors and the campaigns themselves. that is second only to the presidential race. of course, democrats hope that if they win, it will solidify their majority in the senate. republicans think this may give them a shot of shifting the balance. in the meantime, i've been talking to a lot of small business owners here in richmond who say there's no doubt about it, it's been a tough four years. >> if i've learned anything from this, it's how important small business is to communities. i mean, and what has happened in the last four years is most of my friends, they're small business owners as well, and i feel like we've been passing the same $25 around each other's businesses for four years, and that's what's gotten us through. >> reporter: what's interesting is virginia, of course, was always a stronghold for the republican party, a

certainty for the gop. but not anymore. the demographics have changed, the northern suburbs of virginia, those government workers are going to d.c. every day and have really changed the face of politics in the virginia. we have the military to the east, of course, in norfolk. we see those big cuts in defense spending, it could be up to 200,000 jobs are lost. and then to the west and south of here we have coal country which, of course, is not one of mr. obama's strongholds at all. they believe the obama administration has waged war on the coal industry, so mitt romney picking up a lot of votes there. but it's still a toss-up, and tomorrow will prove to be, i'm sure, very interesting indeed, guys. back to you. liz: ashley webster, thank you very much. be sure, you've got to watch our extensive coverage of election 2012 tomorrow.@ it begins with a special edition of "varney & company" at 5 p.m. eastern right here on fox business, and every single story is going to be really put in a vortex of the business and financial and money world. neil cavuto's charging it all

up. david: and lou dobbs is in the middle. so could the results of the election be determined by one simple stat? legend dare businessman and political activist leo hindery says that may be the case this time around. he'll tell us what that sat is. liz: plus, one energy investor says there are two technologies out there that could move the u.s. closer to reaching energy independence and change the employment picture as well. we can do it no matter who takes the white house, he says. the ceo of pinebrook joining us next. ♪ 4g lte is the fastest.

so, which supeast 4g lte service would yochoose,

based on this chart ? don't rush into it, i'm not looking for the fastest answer. obviously verizon. okay, i have a different chart. going that way, does that make a difference ? look at verizon. it's so much more than the other ones. so what if we just changed the format altogether ? isn't th the exact same thing ? it's pretty clea still sticking with verizon. verizon. more 4g lte covera than all other networks combined. david: time for a quick speed read of some of the day's other headlines five stories one minute. first up, gasoline prices posting its biggest fall in the past four years over the past two weeks dropping more than 20 cents a gallon.

price of regular gallon of gasoline, $3.47. cbs and hulu announce plans to place cbs content on hulu plus. it will give subscribers access to 2600 cbs episodes. apple sold three million ipad minis and fourth generation tablets during its opening weekend. this debut doubles the previous weekend milestone of 1.5 million wi-fi only models sold for the third generation ipad in march. verizon is planning to shut down the app store in january after launching v-cast apps in march 2010. the wireless server will remove its store from customer devices. united's dreamliner making the inaugural flight from houston to chicago the boeing 787 dreamliner flight is the first commercial jet to fly paying passengers. that is it today's speed read. liz? [buzzer] liz: very professionally done. david: really? that is a compliment. liz: hit it --, we hit the

button. that is all we care about. we are one day away finding out who will lead this country the next four years despite all the issues at stake. we have somebody who says the winner depends on one factor. david: leo hindery, managing partner at intermedia partners and he joins us now. leo, such a pleasure. >> always nice to come on. this is a fun show to come on to because tomorrow is sew momentous. david: let me ask you something that ties into your personal life. you worked many years with john malone. one of the best deal-makers in the world. >> right. david: john is basically to the right of the political spectrum. >> you are basically to the left. >> that's right. david: you guys got along and built several enterprises built value. that is what they want to see in the nation as a whole. they see a governor romney when he was governor of a liberal democratic state generally knocked heads together and got something done. they look back and see four years of president obama and don't see much bipartisan movement.

so based on that shouldn't we expect there to be more bipartisanship you love under governor romney than president obama? >> you know, since, 3 1/2 years that the president obama has been with us, there have been 264 filibuster threats in the senate alone by the republicans. and when john and i, david, would work together we never talked about a women's right to choose. we never talked about guns. we never talked about issues that are a, gay marriage. and when years ago when we introduced these social issues into the body politic and made them litmus tests, and coupled that with this sort of tension between the progressives on one hand and who believe that government has a proper role and conservatives who frankly do not, that's too much baggage at the federal level. at the state level where none of those issues really come into play you can look back and say governor romney had certain successes in massachusetts. governor christie i think is a doing very nice job in

new jersey. but again the state metric is so much better. and tomorrow, as i said, liz, it will be pretty special. we starred off with 12 swing states. we ended up tonight with seven. i said to one of your colleagues, one of the reasons i wanted to come on because the two of you early on tried to figure out what swing meant. it just doesn't mean voters go back and forth. it means that there is something unique about these seven states. once 12, now seven and it is their economies that ebb and flow. these are states typically, david, that are more balanced economically. so they have a more traditional ebb and a flow. take an ohio, which is sort of ground zero. ground zero in 2004, the economy in ohio was not very bad. john kerry ran a very able race and lost by a few thousand thousand votes to george w. bush. in 2008, i'm not sure one of

the three of us would have won against john in mccain because the economy is mess. liz: you still think the one issue still, it's the economy stupid? what is amazing when somebody becomes president they have to make thousands of decisions over the four years. >> right. liz: but voters tend to hold onto certain single ideas, whether abortion or whether it is the economy or whether something like the buffett tax. what one issue do you think really grabs the psyche, the intensity of the voter? >> when you commit yourself to the electoral college, which winner takes all, you had to winnow yourself down to one or two issues at most. the one that is always there but, rarely, but is a momentous decision is times of war. people come together in times of war and put other things aside. absent that, they fall back to the economy and it's again the electoral college. so again, ohio, virginia,

north carolina, michigan, pennsylvania, indiana, iowa, all of those states are having a better recovery from the recession than is their counterpart in general throughout the united states. so, if you believe what i'm suggest being if it is true what i'm suggesting, then it is probable that you're going to have president obama win the swing states tomorrow because recovery, unemployment, david, in ohio, 7.1%. 7.9% nationally. and, north carolina has had, despite banking tragedies had a resurgence. michigan because of the auto bailout. pennsylvania, also because of the auto bailout. it does come down, liz to one issue, or two in an electoral college format. david: by the way, hamilton county, the most important county, if so goes, if as goes ohio, so goes the nation, hamilton county is even more of that. >> well, those of us who

study ohio which i've been a lot of time in ohio, hamilton county by its demographic should be largely democratic. it's, it's overweighted to people of color. it's, more of a blue-collar state. timkin roller bearings are --. david: but in 2004. >> in 2004 the economy in hamilton county wasn't so bad we saw george w. win. in '08, i think the three of us would have beaten mccain in hamilton county. i didn't run. i didn't run. david: some way day you will. >> no. i keep coming on the show. david: tomorrow night you will be here. >> my nerves can't stand it. i sit home alone on the couch with my dogs and watch alone. liz: we'll call you. we'll e-mail. leo hindery. at&t broadband under his belt. tci. big businessman. how he feels. david: thanks, leo. as we've been telling you

for weeks coal stocks have been popping directly to mitt romney in the campaign, but could all energy stocks do well no matter who is elected tomorrow. liz: do you know where your stocks are after the storm? we're serious. where are your stock certificates, turns out the physical share may not exist anymore, a vault on water street, appropriately was flooded. what could it mean for the investor? we have got the story. ♪ . man on tv: ...rbis and 36 homers. swings at the first pitch and fouls it deep back into the stands. [ding] [fans whirring] announcer: chill raw and prepared foods promptly.

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>> i'm robert gray with your fox business brief. homeowners behind on their mortgages and who were hit by hurricane sandy are getting some relief. the housing and urban development agency is imposing a 90 die moratorium on home foreclosures in that area. hud agency says they do not

want families to be victimized twice. zillow shares are plunging after-hours after the company's disappointing revenue outlook. third quarter revenue topped estimates and profit was in line with expectations. nike is reportedly close to selling cole hahn to apex partners. the deal may fetch half a billion bucks. they shift focus to the namesake brand as well as jordan, converse and hurley. that's the latest from the fox business, giving you the power to prosper so anyway, i've been to a lot of places. you know, i've helped a t of peop save a lot of money. but today...( sfx: loud noise of large metal object hitting the ground) things have been a little strange. (sfx: sound of piano smashing) roadrunner: meep meep. meep meep? (sfx: loud thud sound)

what a strange place. geico®. fifteen minutes could save you fifteen percent or more on car insurance. david: with the election just a day away let's look closer at the and date's energy policy impacting everyday life and jobs. liz: howard newman. this is private equity firm investing in energy and financial services business but we're focusing on energy right now. in a nutshell, romney versus

president obama on the energy policies that they follow? >> so the energy policies the two candidates are very different. the obama policy is really about future technologies and technologies which are largely applicable for power generation, wind, solar, things like that. romney energy policy is all focused on increasing oil production. it is about increasing domestic oil production in the short run and jobs that come with it. you can view the two candidates, very different with respect to the time frame of their policies will act over, over immediacy of relief and on kinds of actions they will take. david: we heard coal mentioned in the first debate by governor romney and the president was quick to step up to the plate and say i too, i want all of the above approach but what are we, if the president is reelected what are we likely to see? first three years pretty tough policy by the president and the epa against fossil fuels. the only last year that he

claimed to be in favor of the all of the above. do you think it will be more like the first three years or the last year? >> i would think more like the first. when you go on the website and looks at his energy policy, it talks about clean coal. it talks about carbon renewal and green agenda. coal is not consistent with the green agenda. clean coal is a long-term solution. it is an important part of the picture in the long term. clean coal competes with natural gas. liz: when you talk to ceo rogers at duke energy, yeah, we want to put in scrubbers and do coal sequestration. moving forward the president has been supportive of thing like nuclear power. this storm taught us a lot it is fair to say. the first thought i could not get to gasoline in the car. if i switch to hybrid, i only have to fill up once every six weeks. this is very serious situation for a lot of people around here and almost felt desfrat. do you think that is the way to go?

>> i think we should do things to improve fuel economy. figuring out ways to put more hybrids in the system. if you want a gas tax, a lot of people like or don't like, use the gas tax to bring hybrids in the marketplace. that would be a good thing. liz: do you like a gas tax. >> i would like a gas tax proceeds which are used to bring hybrids in the marketplace. i think you reduce consumption you it would pay for the tax. david: do you put money into coal and natural gas. >> no, we're focused on oil. that's what we need. david: howard newman of fine brook. physical shares you might not see them and they are left swimming in floodwaters after superstorm sandy in new york. trillions of dollars, trillions of dollars of stock may be washed away. liz macdonald with details next.

david: even if you don't live in this area superstorm sandy may have damaged your stocks, the actual physical certificates. liz: you remember stock certificates?

yes they still exist. one million paper certificates that act as real proof you own stocks and bonds were stored in a vault in new york. you know where this is going, in an area badly flooded and the damage could now be in the billions. liz macdonald joining us with the costly details. >> what happened was 65 water street got flooded. we'll show you on the map where 55 water street. the vault that holds these certificates also underwater. so the depository trust clearing corp is saying to fox business, significant, quote, significant damage from flooding. they're suspending indefinitely the processing of stock certificates. their proof of ownership essentially. they do have electronic backup but you have to have the paper record. so there is no accurate assessment of the water damage here. what we know from 9/11, $300 million was spent by the financial industry to replace about $16 billion worth of stock certificates. that is the silver lining. the financial industry has to pony up. they're the ones that basically exchange the stock

certificates held by the clearing corp down at this vault. we'll be staying on top of. this is another headache had to think about it. david: why didn't they move the hills. >> or move the vault. liz: they have electronic record. >> backup. but you have to show proof of ownership. other pain in the neck, following are now the viewer. david: a lot of people are shivering in areas around new york because of liz macdonald and fox news crew. >> thanks, david. liz: up next, owning your own private island might be a bit cheaper than you think. we'll tell you how much the cheapest one in america is going for, and oh, where it is located. ♪ en we got married. i had three kids. and she became the full time mother of three. it was soccer, and ballet, and cheerleading, and baseball. those years were crazy.

so, as we go into this next phase, you know, a big part of it for us is that the isn't anything on the schedule. oh, hey alex. just picking up some, brochures, posts copies of my acceptance speech. great! it's always good to have a backup plan, in case i get hit by a meteor. wow, your hair looks great. didn't realize they did photoshop here. hey, good call on those mugs. can't let 'em see what you're drinking. you know, i'm glad we're both running a nice, clean race. no need to t nasty. here's your "honk if you had an affair with taylor" yard sign. looks good. [ male announcer ] fedex office. now save 50% on banners.

david: time to go-off the desk. looking for privacy, the way to get away from it, be your own boss, you can be the proud owner of a private island forrunder $120,000. liz: there it is the little guy. david: the island is located in mi are. an, new hampshire features a 400 square foot log cab bin on half a acre of land. it you is cheapest private island for sale in america. liz: don't miss fox business's special coverage of the election.